China may have banned crypto 'publicly' but by design they would have a hard time truly banning it given that wallet addresses aren't associated with personal i

China may have banned crypto 'publicly' but by design they would have a hard time truly banning it given that wallet addresses aren't associated with personal identity and blockchains which don't make transactions easily browsable exist too. Their ban has the effect of preventing centralized exchanges from providing services in China. But there's no practical way for them to crack down on decentralized exchanges and/or people trading them in-person. In the above hypothetical case, if his government were to ban use of crypto, he'd still be better off in the sense that the government isn't going to be able to just find the coins hidden in a mattress the way they might with physical money. It'd be illegal either way, but one way would be much harder to trace. This is of course ignoring the volatility involved in holding crypto, which somewhat weakens the stated benefit given that the goal seems to be to avoid volatility of the local currency.